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which cash moves through the economy
“Our goal* said Leaks, “is to raise our liquidity so we have money to lend locally.'* which, he says, is a very fortunate (for RNB) by product of some of these larger bank failures.
The local focus is also a part of TFB’s mission. Ferrell said that as banks have gotten larger, they've not only lost meaningful contact with their customers. it also has become increasingly difficult to understand exactly what kind of holdings the institutions have on the books. This uncertainty about the value of an institution's holdings is central to the current economic problems. “With community bunks.-* said Ferrell, “you can see what we do with the money’
Mike Ewing - former president of Marshall National Bank and president and CEO of Oak Hill National Bank, a new community bank in Fauquier slated to open later this year - concurred with Ferrell on the underlying differences between community banks and other segments of the financial industry
“While we are currently hearing a lot about the woes of'the largest financial institutions on Wall Street and many non-bank lenders, there are S.fiOO community banks and savings institutions meeting the credit need# of the typical borrow
30.6%